SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2001 SESSION
HB 2474 Income tax credit; solar energy equipment.
Introduced by: Kenneth R. Plum | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED HOUSE:
Income tax credit; solar energy equipment. Provides a personal and corporate income tax credit for the purchase and installation of equipment that (i) generates electricity from solar energy or (ii) uses solar energy to heat or cool a structure or provide hot water. The amount of the credit shall be 15 percent of the cost of purchasing and installing eligible equipment, capped at $1,000 per year. The credit is nonrefundable, and any unused tax credit may be carried over for five years until all the tax credit is taken. The equipment must provide a minimum of 10 percent of the building’s energy needs, and must be approved by the Department of Mines, Minerals, and Energy. This is a recommendation of the Consumer Advisory Board established under the Electric Utility Restructuring Act. The credit sunsets January 1, 2006. This bill was incorporated into HB 2416.
SUMMARY AS INTRODUCED:
Income tax credit; solar energy equipment. Provides a personal and corporate income tax credit for the purchase and installation of equipment that (i) generates electricity from solar energy or (ii) uses solar energy to heat or cool a structure or provide hot water. The amount of the credit shall be 15 percent of the cost of purchasing and installing eligible equipment, capped at $1,000 per year. The credit is nonrefundable, and any unused tax credit may be carried over. The equipment must provide a minimum of 10 percent of the building’s energy needs, and must be approved by the Department of Mines, Minerals, and Energy. This is a recommendation of the Consumer Advisory Board established under the Electric Utility Restructuring Act.